Get the EWASM!

Ethereum on Steroids

ParaState takes Ethereum chain support to the next level through WasmEdge. Develop and execute high-speed smart contracts with built-in Ethereum compatibility (EVM and EWASM) and interoperability in next-level programming languages like Rust, C ++, and Golang. Watch a video here.

EWASM

The Problem With EVM

The Ethereum Virtual Machine (EVM) faces limitations

Since Ethereum created the smart contract with business logic, both new and old industries have extrapolated blockchain technology to real world use cases, from decentralized finance to gaming and metaverses. The rapid build out of this interconnected network on the AI-driven Web3, however, faces scalability & other performance issues. The over 90% of dApps that run their smart contracts on the Ethereum Virtual Machine (EVM) face limitations due to the well-known challenges of EVM:

  • It’s complicated!

  • Rigid architecture for dApps development under Web3

  • High fees

  • It's slow!

  • Limited language support & developer tools (Solidity)

Solution

High Performance On-Chain Runtime for Ethereum-Compatible Smart Contracts

ParaState is Ethereum on Steroids because it extends the frontier of Ethereum to next-generation, high performance blockchains.


With ParaState developers benefit from:

    • High performance

    • EVM to WebAssembly transcompilation using top-level tools like SOLL compiler

    • Low execution time.

    • Compatibility with all existing EVM applications and ERC standards (ERC-20, ERC-721, ERC-1155)

    • Robust smart contracts written in popular high-level programming languages like Rust and DSL, unifying a broader development community

    • A natural bridge between Ethereum, Polkadot, and other next-gen blockchains that want to provide Ethereum compatibility

    • Integration of ParaState universal Substrate VM runtime pallet with Polkadot parachains as a Substrate module, supporting cross-chain services with other parachains

    • Low gas fees

    The Token

    A DAO token for advanced developer tools.

    • Reward dApps deployed on ParaState’s infrastructure

    • Bestow participation rights in the governance of the ParaState developers’ DAO treasury

    • Bestow voting powers for decisions on whether to start an L1 or parachain based on ParaState's technical infrastructure

    • Reward “Plato” testnet node validators to maintain an experimental showcase for advanced technology features

    • Reward token holders who stake to participate in governance

    Traction

    The Highest Performing WebAssembly Solution

    ParaState’s WebAssembly (WasmEdge) is the highest performing WebAssembly virtual machine according to an IEEE Software Magazine study. ParaState provides superior performance over its competitors, leading the way in new applications and use cases. Important achievements include:

    ParaState’s backend WasmEdge is the first and only WASM runtime infra project designated as a CNCF Sandbox project & hosted by CNCF

    Launched the SewUp SDK for Rust, the first Rust SDK for Ethereum-compatible networks

    Awarded grant from Oasis Foundation to build OETH ParaTime for Oasis network to enable Ethereum compatibility

    Has successfully closed more than $10Mn in fundraising this year backed by prominent investors in the industry

    Awarded grant from ICON Foundation to build a Substrate sidechain for the ICX network to enable Ethereum compatibility

    Awarded grant from W3F to integrate the EWASM pallet into the Substrate framework

    Users

    DeFi, Gaming and NFTs Leading the Migration to Next-gen Chains on ParaState

    DeFi, Gaming, Metaverses, Supply Chain, Insurance, Digital Identity & other industry sectors need scalability & interoperability, and ParaState is the leading compatibility solution for Ethereum dApps on higher performance blockchains, ensuring:

    • Layer 1 security
    • Guaranteed cross-chain interoperability for native Ethereum dApps and any public chain
    • UI/UX improvements for dApps
    • Extensive developer community and 20+ languages supported by LLVM and domain-specific languages for robust smart contract development
    • Full compatibility with the entire Web3 blockchain ecosystem

    Business Model

    The Highest Performing WebAssembly Solution

    ParaState is a decentralized autonomous organization (DAO) funded by:

    • The STATE token is backed by a basket of native crypto currencies from other platforms where ParaState technology is deployed
    • License fees as a percentage of gas fees generated by transactions on other networks using ParaState technology

    The ParaState Foundation will manage the developer treasury and execute the decisions of the DAO at the very beginning. Ultimately, all STATE Token holders as part of the DAO will oversee and exercise decentralized governance.

    Market

    The Only Production-Ready Solution Meeting the Explosive dApp Demand for Ethereum Compatibility

    The High Market Demand for Ethereum Compatibility. Industries migrating their applications to the blockchain (dApps) are projected to drive a 68% CAGR to a 39.7B USD blockchain market (2020–2025). ParaState has targeted two key markets to position its core tech for mass adoption:

    • Ethereum is the most important dApps ecosystem in the blockchain industry and the trend is expected to continue

    • Few options on the market offer natively embedded EVM-EWASM solutions

    • ParaState provides a current solution, while the market is facing a delay in the ETH 2.0 roadmap EWASM implementation

    • Few options on the market offer natively embedded EVM-EWASM solutions

    • 90% of dApps are EVM dApps

    ParaState has targeted two key markets to position its core tech for mass adoption:

    • 1

      Positioning as an L1 or parachain, by encouraging the token holder to vote whether to start a permanent L1 or a Polkadot parachain based on Substrate technical infra

    • 2

      Introducing licensing of the EWASM pallet to all other Substrate blockchains and projects that also aim to provide Ethereum compatibility, alongside high performance and scalability

    Milestones

    1. 2019

      • Grant from Ethereum Foundation for SOLL compiler
    2. 2020

      • Grant from W3F for EWASM pallet integration
      • Built ParaTime for Oasis network for Ethereum compatibility
    3. 2021 Q1

      • Seed fundraising round closed
    4. 2021 Q2

      • Strategic fundraising round closed
      • Public testnet Plato launches
    5. 2021 Q3

      • Private fundrasing round closed
      • Grant from ICON Foundation for Substrate sidechain featured EVM&EWASM Public testnet, Plato launches
    6. 2021 Q4

      • SewUp Rust SDKto be launched
      • The 1st Rust SDKfor Ethereum compatible networks

    roadmap

    Q1

    2022

    Plan to participate in the Polkadot parachain auction through community votes

    Q2

    2022

    Plan to bring EWASM pallet to all Polkadot parachains

    Q3

    2022

    Plan to position EWASM runtime for mass adoption in multi-chain ecosystem, becoming a major on-chain runtime substitution for EVM compatible networks

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